Agri profits up, ASB sticking with $10 and Westland cuts coal use

On-farm input costs, extreme weather impacts and covid disruptions has put pressure on farmer's bottom lines. (Image: Getty)

Riley Kennedy

Mon, 29 Aug 2022

High commodity prices and rural land valuation increases have helped a range of primary sector companies lift their profits.However, some point to rising costs, extreme weather impacts and covid disruptions as putting pressure on their bottom lines.One of those was crown-owned farming company Pamu. It achieved a net profit of $59 million, more than double its profit of $29m the year before.The increase in profit was due to an $18m book value gain from the reversal of historical revaluation losses on land and buildings, as well as a $20m fair va...

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